Caribbean Regional Electricity Grid Interconnection and Renewable Energy Scaling Initiative (CREGI-RES)

Overview

Launched on June 15, 2026, the Caribbean Regional Electricity Grid Interconnection and Renewable Energy Scaling (CREGI-RES) is an initiative designed to help participating jurisdictions identify practical opportunities to develop renewable energy on a larger scale and to exchange and trade electricity. Led by the Caribbean Development Bank (CDB), the initiative will assess whether and where regional electricity interconnections could contribute to improved energy security, lower system costs, greater resilience, and reduced greenhouse gas emissions.

The objective of CREGI-RES is to develop an evidence-based regional roadmap that identifies and prioritises renewable-energy and electricity-interconnection opportunities and sets out the technical, economic, regulatory, institutional, and investment actions required to advance viable candidate projects.

About CREGI-RES

Why Regional Action is Needed

Many Caribbean countries still depend heavily on imported fossil fuels for electricity. This dependence exposes them to volatile fuel prices, high generation costs, supply disruptions, and greenhouse gas emissions. At the same time, their small and isolated electricity systems can limit the scale and cost-effectiveness of renewable energy projects. Energy systems and resource conditions vary considerably across the region, and potential solutions will therefore need to be assessed on a jurisdiction-specific and corridor-specific basis.

Renewable energy resources are not distributed evenly across the region. Some jurisdictions may have renewable-energy resources that could be developed beyond projected domestic demand or more economically at scale. Others need reliable, lower-cost clean power but have fewer options for firm renewable generation.

Regional grid interconnection could allow countries with abundant, low-cost renewable resources to supply larger markets. Electricity-importing countries could gain access to cleaner, potentially lower-cost electricity, while electricity-exporting countries could develop larger projects and create new revenue streams. Sharing electricity across connected systems could also support reliability and make more efficient use of the region’s energy resources.

What Regional Grid Interconnection Means

Regional grid interconnection means physically linking electricity systems to enable the trade of power between jurisdictions. For island systems, these links would generally use submarine electricity cables connected to national grids. CREGI-RES will assess the technical feasibility, lifecycle costs, risks, and wider economic and system benefits of potential interconnections.

The Core Idea

CREGI-RES is opportunity-led rather than infrastructure-led. A potential interconnection will be considered only where there is a credible renewable-energy supply opportunity, sufficient demand, technical feasibility, and a viable economic, environmental, social, regulatory, institutional, and commercial case.

CREGI-RES and ASERT-2030

CREGI-RES forms part of CDB’s Accelerated Sustainable Energy and Resilience Transition 2030 (ASERT-2030) Framework. ASERT-2030 seeks to accelerate sustainable energy development by reducing dependence on imported fossil fuels, advancing progress toward renewable energy targets, and removing barriers to regional grid integration.

Implementation Steps

Activity	Description	Indicative completion	Expected outcome
Stage 1A: High-Level Roadmap	In Stage 1A, the Team will assess renewable energy resources, electricity demand, and interconnection routes across the region to identify up to six Candidate CREGI-RES Projects.	Q4 2026	Identification and screening of up to six Candidate CREGI-RES Projects for more detailed assessment in Stage 1B, subject to the approved methodology, available data, and stakeholder consultation
Stage 1B: Detailed Roadmap	Stage 1B will undertake more detailed screening-level assessment of the Candidate CREGI-RES Projects and refine their prioritisation based on project-specific evidence on renewable resource, interconnection, trading potential, costs and benefits, financing and bankability, E&S risks, and the institutional and regulatory conditions required. The assessments will remain at the roadmap and project-preparation level and will not constitute full feasibility studies or detailed engineering	Q1 2027	A Detailed Roadmap setting out assessment findings, priority actions, decision points, timelines, responsibilities, and next steps
Stage 2A: Establishment and Support of Working Groups	Stage 2 establishes Working Groups, comprising Borrowing Member Countries and regional stakeholders will support participating jurisdictions in taking ownership of and advancing confirmed priority projects.	Q2 2027	Three Working Groups — renewable energy resource development, submarine electricity interconnection, and the regional power market — providing cross-jurisdiction leadership and technical advice.
Stage 2B: Report on the Development of CREGI-RES	Document what the assignment achieved and the immediate next steps, so the momentum to take CREGI-RES forward carries on when this assignment ends	Q2 2027	A report that can be disseminated to stakeholders for further discussion and serves as a reference for further actions.

Governance

CDB’s Sustainable Energy Unit manages CREGI-RES and provides strategic direction, quality assurance, and coordination with participating Borrowing Member Countries.

CDB leads formal engagement with participating governments and approves external communications and key deliverables. The technical Team supports the initiative through analysis, stakeholder engagement, data collection, and preparation of the High-Level Roadmap, Detailed Roadmap, and related outputs.

Participating jurisdictions will engage through designated focal points and, as the initiative progresses, through the CREGI-RES Working Groups to support coordination and advancement of agreed priority actions.